NationStates Jolt Archive

Despite the bailiout, the dow's down 764 (to 9561) and continuing to drop. For reference, I was in a contest in 1997 (!) and my guess for the tiebreaker (the dow's end-of-year value) was 9750.

She's a maniac, maniac on the floor
Oh, the Dow just hasn't fallen this much before....

(Please don't shoot the messenger :eek:)

Workers of the World, Unite! You have nothing to lose but your chains!

Etc. Etc.

I'm still not worried. I'm living for the moment.

Despite the bailiout, the dow's down 764 (to 9561) and continuing to drop. For reference, I was in a contest in 1997 (!) and my guess for the tiebreaker (the dow's end-of-year value) was 9750.

She's a maniac, maniac on the floor
Oh, the Dow just hasn't fallen this much before....

(Please don't shoot the messenger :eek:)

Can we shoot the messenger for the little ditty at the end of the post? ;)

Can we shoot the messenger for the little ditty at the end of the post? ;)

No! My scales are very sensitive. :(

because the same issue that caused this still exist. Low fed reserve rates.

because the same issue that caused this still exist. Low fed reserve rates.

WTB $700B bailout.

So throwing money at a problem doesn't always fix it....hmmm.....who'd thunk'd it?

I say let it crash and burn....maybe then the US government will actually come up with a reasonable solution, and they might help the middle and poor classes in this country while they are at it.

Then again, this is Bush we're talking about.....he'll probably just ask for another 700 billion.

I need to move to Europe soon. Any help would be greatly appreciated.

WTB $700B bailout.
lol i has found nu glitch prss tab enter entr to 2x ur monneys

Watching the Dow is for losers.

A bonus is that gas is cheaper than it's been a while. :p

Dow Jones is now back above 10k.

So throwing money at a problem doesn't always fix it....hmmm.....who'd thunk'd it?

what exactly did you expect, that the changes in the credit situation would instantaneously and magically be fixed the day the bailout bill was passed, even though no money has actually been given out yet?

Wait for money to ACTUALLY be thrown before we judge the merits of the plan.

So throwing money at a problem doesn't always fix it....hmmm.....who'd thunk'd it?

Oh noez! My entire worldview is shattered!:eek2:

Oh noez! My entire worldview is shattered!:eek2:And people call me narrow minded. :(
Kidding, kidding. :p

We just must wait for our Lord and Saviour The Free Market to come and rescue us.

Despite the bailiout, the dow's down 764 (to 9561) and continuing to drop.
Everyone making everything worse, all the time (http://www.thedailymash.co.uk/news/society/everyone-making-everything-worse%2c-all-the-time-200809171261/).

We just must wait for our Lord and Saviour The Free Market to come and rescue us. I was with you until you said we had to wait on something. :p

We just must wait for our Lord and Saviour The Free Market to come and rescue us.
How many threads is that now? :p

time to start investing? I'm actually starting to save some cash up to do this right now and hopefully the market will bounce back to the degree that I can piss it all away on a flash car/pool shark

So throwing money at a problem doesn't always fix it....hmmm.....who'd thunk'd it?

I demand proof!

Throw money at me! I'll fix the problem(s)! *sneaks out back door*

Ah, the irrationality of economy.

There's no need to design a good RNG, just looking at Dow Jones is enough....

Ah, the irrationality of economy.
Nothing really irrational about it this time. The place is heading for a recession, and it's becoming clear that the bail-out is unlikely to do the trick of recapitalising the banking system.

The former in particular hadn't been priced into the share market yet, which is what started now. The falls started triggering margin calls, forcing more selling, forcing more margin calls and so on.

And now that the Dow finished below 10,000 (which is a figure used in many people's modelling as a support floor), the traders' programs will be yelling at them to completely change their valuations and positions. So the falls may well continue for a few days yet, until we reach some sort of bottom.

This is deleveraging now as well. The bail-out won't avoid it, and thanks to Congress waiting for a week (leaving everyone with too much time to look at just how crap everything is) no one got the chance to kid themselves that it would. So people need to pay down debts and raise more solid cash - for traders that means selling off. For banks it means no more lending, and for people it means tighter belts. One follows after another, and it's going to be a few painful years.

Here's a good article:
Liquidate Everything - Part 1 (http://www.businessspectator.com.au/bs.nsf/Article/Liquidate-everything-K62PA?OpenDocument) Part 2 (http://www.businessspectator.com.au/bs.nsf/Article/Dogs-going-cheap-K6456?OpenDocument&src=sph)

Nothing really irrational about it this time. The place is heading for a recession
That's another irrationality, recession.

Logically speaking, we are capable of mining more resources and providing more value per unit of resource due to technological advances (incl. software industry). Furthermore, there are more people alive than ever before thus the workforce, amount of consumers and the services needed is higher than ever before.

Yet economy is slowing down...

In short: Wtf? :tongue:

A bonus is that gas is cheaper than it's been a while. :p

It's still 4.00 a gallon, in the places that don't have plastic bags on all the pumps. They say it MIGHT get back to normal by the 15th or so. :mad:

It's still 4.00 a gallon, in the places that don't have plastic bags on all the pumps. They say it MIGHT get back to normal by the 15th or so. :mad:It's...it's $3.51 here. :eek:

It's...it's $3.51 here. :eek:
It's around 6-7 bucks per gallon across the pond so get over your subsidized fuel. :p

When there's "blood in the water", it's historically been the best time to buy stocks. I'm already making some small value purchases.

It's around 6-7 bucks per gallon across the pond so get over your subsidized fuel. :pI could always buy JP-8. :D
But that's impossibly expensive. :(

I could always buy JP-8. :D
But that's impossibly expensive. :(
Isn't it? (http://www.google.com/search?num=50&hl=ene&q=1.3+euro%2Flitre+in+dollars%2Fgallon&btnG=Search)

For some reason, seeing Americans complain about gas prices seems bloody hilarious to me...

btw. Google calculator ftw!

When there's "blood in the water", it's historically been the best time to buy stocks. I'm already making some small value purchases.
As long as you don't plan to sell them soon. There's a degree of panicking in this now, but fact of the matter is that in general these shares' underlying valuations have to be corrected downwards because of this long recession that's coming. Some firms are obviously affected less than others (grocery retailers, healthcare - the sorts of things that people have to do even if times are bad) - but also keep track of whether they have a lot of debt to roll over. That's going to be more expensive now.

Isn't it? (http://www.google.com/search?num=50&hl=ene&q=1.3+euro%2Flitre+in+dollars%2Fgallon&btnG=Search)

For some reason, seeing Americans complain about gas prices seems bloody hilarious to me...

btw. Google calculator ftw!I'm not actually complaining. All I said was that it was a bonus that it was less expensive than before. Sorry if it seemed that way. :p

I say let it crash and burn....maybe then the US government will actually come up with a reasonable solution,

Let there be a problem so that there can be a solution?

and they might help the middle and poor classes in this country while they are at it.

HA!

Then again, this is Bush we're talking about.....he'll probably just ask for another 700 billion.

Now you're talking sense. Whew. You had me worried there ;)

I need to move to Europe soon. Any help would be greatly appreciated.

*points East* That way.

Isn't it? (http://www.google.com/search?num=50&hl=ene&q=1.3+euro%2Flitre+in+dollars%2Fgallon&btnG=Search)

For some reason, seeing Americans complain about gas prices seems bloody hilarious to me...

btw. Google calculator ftw!

Okay, dude, not comparable.

You have world-class public transportation systems. We don't. You have cities designed prior to automobiles, hence, your cities are built for walking. Many of ours are built around cars such that you sometimes have to walk 2 miles to get to the grocery store. Your city is organized for mixed-use zoning, so a grocery store is usually a block away.

Oh, and did I mention that the worst land-use cities are all in the Southwest, otherwise known as a freaking desert? When you have to choose between driving 20 miles daily and walking 3 or 4 and then waiting on a crappy bus in 115 degree heat in Vegas, then you can laugh at us for bitching about the high price of petrol.

Meanwhile, in Oz:
http://www.rba.gov.au/MediaReleases/2008/mr_08_20.html
STATEMENT BY GLENN STEVENS, GOVERNOR
MONETARY POLICY

At its meeting today, the Board decided to lower the cash rate by 100 basis points to 6.0 per cent, effective 8 October 2008.

[...]

Economic activity in the major countries is also weakening, and evidence is accumulating of a significant moderation in growth in Australia’s trading partners in Asia. The expansionary effects of the recent surge in Australia’s terms of trade are still coming through, but some decline in the terms of trade now looks likely over the coming year, with many commodity prices having declined from their peaks. This, combined with the likelihood of below-trend growth in the global economy, suggests that global inflation will moderate in 2009.

[...]

Given that background, the Board judged that a material change to the balance of risks surrounding the outlook had occurred, requiring a significantly less restrictive stance of monetary policy. The Board also took careful note of movements in funding costs in wholesale markets. Having weighed these considerations, the Board decided that, on this occasion, an unusually large movement in the cash rate was appropriate in order to bring about a significant reduction in costs to borrowers. The Board does not, however, regard that movement as establishing a pattern for future decisions.

[...]

That's the biggest single cut in many years, and wasn't expected by anyone. People had been betting on a half a percent cut. Two pieces of analysis here (http://www.businessspectator.com.au/bs.nsf/Article/Rate-cut-gives-market-hope-K779B?OpenDocument&src=sph) and here (http://www.businessspectator.com.au/bs.nsf/Article/Interest-rate-give-and-take-K76HB?OpenDocument&src=sph).

The Bank of Japan meanwhile kept rates unchanged, though at 0.5% it's not like they've got much room to go downwards anyways.

When there's "blood in the water", it's historically been the best time to buy stocks. I'm already making some small value purchases.
Don't tell me you're buying banks by the bundle! :p

Apparently the Russians are offering Iceland's government a loan (http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSSAT00565120081007) to keep them from failing completely.

I reckon they'll be joining the Euro as soon as they can, the kroner probably can't be saved.

What money I have is not in stocks. The money I had in stocks, my parents frivoled away in 2000, and at that point in time I was, like, 14.

rioting in the streets will come soon. things are just getting interesting.

I could always buy JP-8. :D
But that's impossibly expensive. :(

Personally, I avoid putting JP-8 in my truck whenever diesel is available. JP-8 makes it run like crap.

I reckon they'll be joining the Euro as soon as they can, the kroner probably can't be saved.

Some may want to (Prime Minister aside), but I don't think the EU will want them joining without becoming full members. Although Andorra and Montenegro both use the currency and aren't full members, the former is too small and the latter is too new in comparison to Iceland's situation.